The MLB introduced the four-by-four patch earlier in 2021, which would be present on either sleeve of the teams\’ jerseys during the 2023 season. The sporting body has regulated the minimum contract to one year. The MLB Players Association will approve all the designs. Meanwhile, alcohol, betting, and media brands have been excluded from the list of potential sponsors. Thus, the New York Yankees have started their search for a corporate jersey patch.
The sponsor\’s logo would be printed on the franchises\’ home and away jersey sleeves at the start of next season. As per the reports, the Pinstripers have hired a commercial consulting company named Legends to conduct a search for a lucrative sponsorship deal. The Yankees and the Dallas Cowboys established Legends in 2008. They collectively own more than 40% stake in the company.
The Bombers are reportedly looking for a multi-year patch deal with an established brand after choosing to let Yankees Stadium remain among the rare major league destinations without any naming right. Hence, the Yankees expect an offer equivalent to a naming rights deal being the biggest franchise in the MLB.
As per Forbes, the New York Yankees are the most valued team, worth $ 6 Billion among all 30 MLB franchises. Hence, the Yankees are expected to bag the highest earning jersey patch deal due to their glorified history, brand value, and target market size. Moreover, the Bombers are having an excellent season. They lead the American League East standings by a brilliant 62-27 record.
Meanwhile, the San Diego Padres became the first MLB team to sign Motorola as their jersey patch sponsor in April. Then, the Los Angeles Dodgers hired a marketing agent to look for a potential jersey sponsor along with the rights to the Dodgers Stadium field.
Could The Yankees Get The Highest Jersey Patch Sponsor Deal?
Talking to Forbes, Legends\’ President Chris Hibbs characterized the jersey patch investment as a kind of top-tier naming rights investment. Chris shared such deals were fairly common in North America. The Yankees have big expectations as they are aware of the potential of a naming rights deal for a top-tier venue like the Yankees Stadium in a huge market.
Further, Hibbs admitted that the Yankees are the most successful franchise in global sports, providing the franchise with universal recognition. Moreover, Chris said while the Bombers are a fashion brand to some people, others see it as an iconic team. He concluded, \”Putting a brand on the pinstripes for the first time ever is a super unique opportunity.\”